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Senior executive Gaurav Gupta, face of Zomato IPO, quits company

Tuesday, September 14, 2021, 16:42 Hrs  [IST]
HBI Staff | Hyderabad

According to Money Control, Senior executive Gaurav Gupta has decided to leave Zomato Limited, just two months after the food delivery company raised USD 1.3 billion in an initial public offering, people familiar with the development said.

Gupta, who joined Zomato in 2015 was elevated as Chief Operating Officer in 2018 and as a founder in 2019. He was the face of the company in the run-up to the IPO, leading discussions with investors and the media.

His exit comes days after Zomato exited its grocery delivery and nutraceutical businesses. Neutraceuticals include dietary fibres, antioxidants and herbal and natural fund.

The people cited in the first instance, who requested anonymity, said Gupta’s exit had been in the works after he and Goyal had a falling out some time ago.

Businesses launched by Gupta, including grocery delivery and nutraceuticals, among others, were struggling or had to be shut down. Overseas expansion efforts he spearheaded also didn't work out.

Gupta, in an internal mail, said that he was "starting a new chapter" after six years at Zomato.

"We have a great team now to take Zomato forward and it is time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now," Gupta said in the email to colleagues quoted in a company blog.

After first shutting its grocery delivery service, Zomato pulled the plug on the nutraceutical business. Zomato ventured into the nutraceutical business last year with the launch of health and fitness products.

The company decided to shut it at a time when the government was taking a stricter stance on private label norms for marketplace businesses in the country.

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